Tag Archives: Reverse Mortgage

As new regulations go into effect and a new mortgage market takes shape this year, lenders and originators must reconsider current relationships and look for partnerships that synch with their priorities, according to Hammerhouse Strategic Growth Partners. Hammerhouse has dubbed 2014 "the year of the originator free agency," stating in a recent release, "[T]he key trend impacting the residential mortgage market in 2014 will be the development of the free agency market for successful mortgage originators."

Reverse mortgage software provider ReverseVision has a new client: Universal Lending Corporation (ULC), a Denver-based lender with more than three decades of experience in the business.

In San Diego, software provider ReverseVision introduced its newest client: Mason-McDuffie Mortgage Corporation, a lender with more than a century of experience helping homeowners achieve the American Dream.

ReverseVision, a San Diego-based reverse mortgage software provider, is welcoming its newest client to the fold: Live Well Financial, a leading issuer of Ginnie Mae home equity conversion mortgage-backed securities (HMBS).

ReverseVision, Inc., announced the availability of its latest product: ReverseVision University, an online education platform to teach mortgage professionals about the reverse mortgage industry.

ReverseVision, a provider of reverse mortgage software, announced the signing of its newest client: MiLEND, Inc., a national lender headquartered in Atlanta, Georgia.

The Senate Banking Committee unveiled on Monday a discussion draft of "The Federal Housing Administration [FHA]" Solvency Act of 2013," a new bill designed to provide the agency with tools to strengthen underwriting, make lenders more accountable, and bolster its reverse mortgage program. The bipartisan bill was introduced by Sens. Mike Crapo (R-Idaho) and Tim Johnson (D-South Dakota), who praised FHA's role in preventing a more severe housing crash but said action is needed to repair the agency's situation.

While reverse mortgages can be a boon to seniors as they head into retirement, a new report from the National Center for Policy Analysis (NCPA) says trends show trouble in the market that may cost taxpayers billions of dollars. According to a 2012 MetLife survey, two-thirds of borrowers are now using reverse mortgages to pay down debt. Pamela Villarreal, a senior fellow at NCPA, expects the "troubling trend will increase as more baby boomers enter retirement."

Walter Investment Management Corp. announced Tuesday that its wholly owned subsidiary, Reverse Mortgage Solutions, Inc. (RMS), has acquired a reverse mortgage servicing portfolio containing more than 76,000 loans from Wells Fargo Home Mortgage. The portfolio has an unpaid principal balance of about $12.2 billion and is expected to transfer to RMS during the third quarter of 2013, Walter Investment said in a release. The transaction will double the size of Walter Investment's serviced book, according to CEO and chairman Mark J. O'Brien.

Ocwen Financial Corporation announced the closing of its deal to acquire the country's largest reverse mortgage lender. The Atlanta-based financial services holding company announced in October it had entered into an agreement with Genworth Financial Corporation to purchase Liberty Home Equity Solutions, at the time known as Genworth Financial Home Equity Access. The purchase price was approximately $22 million. Ocwen CEO Ron Faris said the deal "positions [Ocwen] well in a market with enormous future growth potential."